Common use of Compensation for Damage or Loss Clause in Contracts

Compensation for Damage or Loss. 1. When investments made by investors of either Contracting Party suffer loss or damage owing to war or other armed conflict, civil disturbances, state of national emergency, revolution, riot or similar events in the territory of the other Contracting party they shall be accorded by the latter Contracting Party treatment, as regards restitution, indemnification, compensation or other settlement, not less favourable than the treatment that the latter Contracting Party accords to its own investors or to investors of any third State, whichever is more favourable to the investors concerned. 2. Without prejudice to paragraph 1 of this Article, investors of one Contracting Party who in any of the events referred to in that paragraph suffer damage or loss in the territory of the other Contracting Party resulting form:paragraph 1 of this Article, investors of one Contracting Party who in any of the events referred to in that paragraph suffer damage or loss in the territory of the other Contracting Party resulting form: a. Requisitioning of their property or part thereof by its forces or authorities; B destruction of their property or part thereof by its forces or authorities which was not caused in combat or was not required by the necessity of the situation, shall be accorded restitution, or compensation for the damage or loss sustained during the period of requisitioning as a result of destruction of their property.

Compensation for Damage or Loss. 1. When investments made by investors of either Contracting Party suffer loss or damage owing to war or other war, armed conflict, civil disturbances, a state of national emergency, revolutionrevolt, insurrection, riot or other similar events in the territory of the other Contracting party Party, they shall be accorded by the latter Contracting Party treatment, as regards restitution, indemnification, compensation or other settlement, not less favourable than the treatment that which the latter Contracting Party accords to its own investors or to investors of any third State, whichever is more favourable to the investors concerned. 2. Without prejudice to paragraph 1 of this Article, investors of one Contracting Party who in any of the events referred to in that paragraph suffer damage or loss in the territory of the other Contracting Party resulting formfrom:paragraph 1 of this Article, investors of one Contracting Party who in any of the events referred to in that paragraph suffer damage or loss in the territory of the other Contracting Party resulting formfrom: a. (a) Requisitioning of their property or part thereof by its forces or authorities; B destruction , (b) Destruction of their property or part thereof by its forces or authorities which was not caused in combat action or was not required by the necessity of the situation, shall situation Shall be accorded restitution, or just and adequate compensation for the damage or loss sustained during the period of the requisitioning or as a result of the destruction of their the property. Resulting payments shall be freely transferable in freely convertible currency without delay.